CDs & IRAs


A CD is an investment for a specific term with a set yield. You can select the term that works the best for you.

  • $500 minimum balance to open
  • Terms ranging from 30 days to 5 years
  • 10 day grace period to change your CD or withdraw your money after maturity date without penalty
  • Interest can be paid to the certificate of deposit account, deposited to a Farmers and Merchants State Bank checking or savings account, an interest check can be mailed to you, or sent via ACH to other financial institution



  • Deductible contributions
  • Tax-deferred growth of earnings
  • Maximum annual contribution of up to $5,500 or 100% of compensation, whichever is less
  • No contributions after age 70 ½
  • Distributions must begin at age 70 ½


  • $500 minimum balance to open
  • IRA CD's compound quarterly
  • Non-deductible, after-tax contributions
  • Tax-free earnings and distributions (if qualified distribution is made)
  • Maximum annual contribution of up to $5,500 ($6,500 if you're age 50 or older) or your taxable compensation for the year
  • Contributions permitted after age 70 ½
  • Distributions not required after age 70 ½

FDIC Information

Your deposits are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 per depositor, per insured bank, for each account ownership category. To learn more about the FDIC, visit them online at: